Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Other Comprehensive Income (Loss)

Note 7 - Other Comprehensive Income (Loss)

The following table illustrates activity within the balances in accumulated other comprehensive income (loss) by component, and is shown for the years ended December 31, 2013, 2012, and 2011.

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)	Net unrealized gains (losses) on cash flow hedges			Net unrealized gains (losses) on investment securities available for sale		Post-retirement unfunded health benefit		Total
Balance at December 31, 2010	$	(1,208	)	58,366		—		57,158
Other comprehensive income (loss) before reclassifications	(4,279		)	20,987		—		16,708
Amounts reclassified from accumulated other comprehensive income (loss)	(7,037		)	(45,736	)	—		(52,773	)
Net current period other comprehensive income (loss)	(11,316		)	(24,749	)	—		(36,065	)
Balance at December 31, 2011	$	(12,524	)	33,617		—		21,093
Other comprehensive income (loss) before reclassifications	—			7,566		395		7,961
Amounts reclassified from accumulated other comprehensive income (loss)	(849		)	(24,072	)	(32	)	(24,953	)
Net current period other comprehensive income (loss)	(849		)	(16,506	)	363		(16,992	)
Balance at December 31, 2012	$	(13,373	)	17,111		363		4,101
Other comprehensive income (loss) before reclassifications	—			(44,236	)	519		(43,717	)
Amounts reclassified from accumulated other comprehensive income (loss)	274			(1,811	)	(105	)	(1,642	)
Net current period other comprehensive income (loss)	274			(46,047	)	414		(45,359	)
Balance at December 31, 2013	$	(13,099	)	(28,936	)	777		(41,258	)

In accordance with ASC 740-20-45-11(b), a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income is charged directly to other comprehensive income (loss). Thus, during the years 2010 and 2011, Synovus recorded a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income directly to other comprehensive income (loss) by applying the portfolio approach for allocation of the valuation allowance. Synovus has consistently applied the portfolio approach which treats derivative instruments, equity securities, and debt securities as a single portfolio. As of December 31, 2013, the ending balance in net unrealized gains (losses) on cash flow hedges and net unrealized gains (losses) on investment securities available for sale includes unrealized losses of $12.1 million and $13.3 million, respectively, related to the residual tax effects remaining in OCI due to the previously established deferred tax asset valuation allowance. Under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed.

The following table illustrates activity within the reclassifications out of accumulated other comprehensive income (loss), for the year ended December 31, 2013.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)
For the Year Ended December 31, 2013
Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)			Affected line item in the statement where net income is presented
Net unrealized gains (losses) on cash flow hedges:
Amortization of deferred losses	$	(447	)	Interest expense
	173			Income tax (expense) benefit
	$	(274	)	Reclassifications, net of income taxes
Net unrealized gains (losses) on investment securities available for sale:
Realized gain on sale of securities	$	2,945		Investment securities gains, net
	(1,134		)	Income tax (expense) benefit
	$	1,811		Reclassifications, net of income taxes
Post-retirement unfunded health benefit:
Amortization of actuarial gains	$	170		Salaries and other personnel expense
	(65		)	Income tax (expense) benefit
	$	105		Reclassifications, net of income taxes